Last week, Beach announced an interim half-year dividend of half a cent per share. The payment followed a full year dividend of a half a cent per share paid in November last year - the first such distribution by Beach in 16 years.

Shareholders will vote on the matter on April 10.

"The Dividend Reinvestment Plan gives shareholders the opportunity to employ their payments to increase the size of their shareholding without outlaying additional funds or incurring brokerage fees," Beach Petroleum's Chairman, Mr Robert Kennedy, said.